Finst

3 days, $2.2B: Wall Street buying Ethereum 6x faster than Bitcoin

Inflow into Ethereum spot ETFs keeps breaking records.

By Mike Hesp
• 2 min read
3 days, $2.2B: Wall Street buying Ethereum 6x faster than Bitcoin

Inflows into Ethereum spot ETFs continue to break records. Last Wednesday, a whopping $704 million flowed into these funds, nearly eight times the $86.7 million that went into Bitcoin ETFs on the same day. In just three trading days, Ethereum products gathered $2.2 billion, versus $331 million for Bitcoin funds. That means Ethereum is currently attracting six times as much capital as Bitcoin.

According to Presto Labs benefit Ethereum-ETFs from favorable regulations, including the GENIUS Act and the support of SEC Chairman Paul Atkins for DeFi under "Project Crypto". Atkins stressed that most cryptocurrencies, in his view, are not securities. Additionally, the regulator wants to make so-called "super apps" easier to enable, allowing providers to offer multiple services with a single license.

Heading toward all-time high Ethereum rose more than 30% over the past seven days and hit a new all-time high of $4,800. The rally led to $127.4 million in short-position liquidations in the last 24 hours.

The world’s largest Ethereum treasury, BitMine, said it would boost its ETH-purchase budget by $20 billion to a total of $24.5 billion. The company currently owns about 1.15 million ETH valued at nearly $5 billion.

New price targets Standard Chartered raised its price forecast for Ethereum to $7,500 in 2025 and $25,000 in 2028, nearly doubling its previous projection. ChatGPT sees the price finishing this year between $5,100 and $5,400.

Ethereum was launched in 2015 by Vitalik Buterin and co-founders, and is now the second-largest cryptocurrency in the world by market cap, and the leading smart contract platform. The network underpins countless DeFi, NFT, and tokenization projects. ETH is currently trading around $4,700, just 2% below the all-time high. The market cap stands at $575 billion.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.